Saudi Minister of Industry and Mineral Resources His Excellency Bandar Alkhorayef recently wrapped up a three-day visit to France, focusing on deepening cooperation in mining, critical minerals, aerospace, and manufacturing. According to the Saudi Press Agency, His Excellency Bandar Alkhorayef held meetings with top French officials and executives from companies such as Airbus, Safran, and Orano Mining, with the aim of fostering joint ventures and strategic investments.
A major part of the discussions centered on securing reliable supplies of essential minerals like lithium and cobalt, which are crucial for Saudi Arabia’s clean energy initiatives and its expanding electric vehicle industry. His Excellency Bandar Alkhorayef also met with Benjamin Gallezot, France’s Interministerial Delegate for Strategic Minerals and Metals Supplies, to talk about strengthening global supply chains and advancing sustainability in mining.
During his tour, His Excellency Bandar Alkhorayef visited Airbus Helicopters’ Marignane facility and met with CEO Guillaume Faury to explore advanced aircraft manufacturing and technology transfer, supporting the Kingdom’s goal to localize the aviation industry. Additional meetings took place with leaders from Orano Mining, Bel Group, Sidel, and Safran, focusing on investment opportunities in sectors like satellite technology, food production, and high-tech manufacturing.
The visit highlighted Saudi Arabia’s attractive investment environment, which features significant financial incentives and long-term support for foreign investors. His Excellency Bandar Alkhorayef pointed out the rapid growth in Saudi Arabia’s aviation sector, noting the expansion of national airline fleets and infrastructure. The National Aviation Strategy aims to boost annual passenger numbers to 330 million and air cargo to 2.5 million tonnes by 2030.
To further encourage investment, Saudi Arabia has launched a SR10 billion ($2.67 billion) incentive program, as reported by the Saudi Press Agency, offering up to 35 percent coverage for eligible capital expenditures, with a maximum of SR50 million per project. The Kingdom also introduced its first aviation-focused industrial hub, spanning 1.2 million square meters and providing direct access to key transport links.
His Excellency Bandar Alkhorayef also took part in the “Industrial Day” at Airbus Helicopters’ headquarters, emphasizing the Kingdom’s commitment to technology localization and international partnerships. The visit concluded with the signing of a memorandum of understanding between Sidel and Saudi Arabia’s National Industrial Development Center, aiming to establish a regional service hub and training center to further develop local expertise and advance Saudi Arabia’s industrial ambitions.
